'Secondary Battery Holds Up' KOSPI Closes Higher... KOSDAQ Declines

The KOSPI closed higher on the 7th, driven mainly by strong performance in secondary battery stocks.

Dealers are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

On that day, the KOSPI index closed at 2647.62, up 6.13 points (0.23%) from the previous trading day. The index opened at 2653.98, up 12.49 points (0.47%), but the gains somewhat tapered off. Foreign investors sold 307 billion KRW, institutions sold 42.4 billion KRW, while individual investors bought 269.9 billion KRW on their own.

Among the top market capitalization stocks, Samsung SDI (13.03%), LG Energy Solution (3.23%), Samsung Life Insurance (2.80%), POSCO Future M (2.10%), and KB Financial Group (2.01%) rose. Conversely, Celltrion (-1.94%), Samsung Electronics (-0.96%), Kia (-0.71%), Shinhan Financial Group (-0.44%), and NAVER (-0.42%) declined.

By sector, insurance (1.90%), financials (1.11%), steel and metals (0.69%), and electrical and electronics (0.43%) rose. On the other hand, medical precision (-2.14%), electric and gas utilities (-1.49%), food and beverages (-1.32%), construction (-1.24%), and paper and wood (-1.14%) sectors fell.

The KOSDAQ index fell 7.30 points (0.84%) to 863.37 compared to the previous session. The index opened at 874.30, up 3.63 points (0.42%), but soon turned downward. Foreign investors sold about 202.6 billion KRW, institutions sold about 122.8 billion KRW, while individual investors bought approximately 374.4 billion KRW.

Among the top market capitalization stocks, Lunit (8.51%), Classys (2.66%), EcoPro BM (0.40%), and EcoPro (0.33%) rose. Meanwhile, Sinsung Delta Tech (-8.14%), Enchem (-5.45%), Alteogen (-5.05%), EO Technics (-4.32%), JYP Entertainment (-3.90%), and Dongjin Semichem (-3.01%) declined.

Ji-won Kim and Jeong-eun Lim, researchers at KB Securities, said, "The box range market continued," adding, "Foreign investors sold more than 700 billion KRW worth of KOSPI cash stocks over two days, and with the lack of additional upward momentum, most stocks except secondary batteries gave back their gains."

They continued, "Secondary batteries were characterized by the sharp rise of Samsung SDI, which announced plans to mass-produce cylindrical 46-pi (46 mm diameter) batteries, and among low price-to-book ratio (PBR) stocks, financial holding companies showed a favorable trend. The impact of deciding to release detailed guidelines for the value-up program one month earlier, moving from June to May, through the first meeting of the corporate value-up advisory group consisting of 12 members on that day," they added.

On the same day, the won-dollar exchange rate in the Seoul foreign exchange market closed at 1330.9 won, down 3.6 won from the previous trading day.

This content was produced with the assistance of AI translation services.